As Bitcoin finished a tumultuous trading week, with coin prices climbing from $ 11,000 to heights of near $ 20,000 on the GDAX exchange, the weekend has brought worries of what effect futures trading will have on Bitcoin, especially in
regard to market manipulation believed
Not exact matches
Since Bitcoin became mainstream on the
market, there have been numerous talks
regarding whether it would be wise for governments
to implement a set of regulation, meant
to protect both the public, but also companies from abuse, and possible
market manipulation.
While I have no doubt there has been
manipulation of the
market with
regards to electronic book pricing, in libraries we find that has more
to do with fear than trying
to destroy the competition, Amazon, of course, excepted.
In addition
to his class actions work, David also represents clients in investigations and enforcement actions before the Ontario Securities Commission, Investment Industry Regulatory Organization of Canada, the Mutual Fund Dealers Association and listed stock exchanges
regarding insider trading,
market manipulation, securities distributions, financial disclosure, investment suitability and director conduct.
Andy McGregor, RPC banking litigation partner, says: «The banks are already under a huge amount of regulatory pressure in relation
to manipulation of the foreign exchange
market, but in financial terms the banks face a similar risk as
regards civil litigation from pension funds and other fund managers that lost money because of FX
manipulation if there are adverse regulatory findings.
In the letter, the SEC asked questions about the potential for currency
manipulation, challenges
regarding setting an accurate value for a product tied
to volatile
markets, and how demand
to redeem the virtual currency would be met, among other questions.
Krugman also touched on the high potential for
manipulation in the bitcoin
market, pointing
to a paper
regarding the
manipulation of the bitcoin price by now - defunct bitcoin exchange Mt. Gox, as an example.